United

Strong

<img width="1200" height="800" src="https://coingape.com/wp-content/uploads/2023/12/ripple-coin-e1706944247943.jpg" class="attachment-full size-full wp-post-image" alt="Ripple Payments To Go Live In US Amid SEC Battle &amp; Hack Fiasco" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/12/ripple-coin-e1706944247943.jpg 1200w, https://coingape.com/wp-content/uploads/2023/12/ripple-coin-e1706944247943-300x200.jpg 300w, https://coingape.com/wp-content/uploads/2023/12/ripple-coin-e1706944247943-768x512.jpg 768w, https://coingape.com/wp-content/uploads/2023/12/ripple-coin-e1706944247943-150x100.jpg 150w, https://coingape.com/wp-content/uploads/2023/12/ripple-coin-e1706944247943-272x182.jpg 272w" sizes="(max-width: 1200px) 100vw, 1200px">
Ripple Payments is set to go live in the United States after 3 years of shunning itself from the region. The majority of the organization’s operations are based outside the U.S. owing to the ongoing legal battle with the Securities and Exchange Commission (SEC). However, according to a recent update, Ripple Payments is planning to roll out solutions for the U.S. in particular. 
<h2 id="ripple-payments-set-to-introduce-product-upgrades">Ripple Payments Set To Introduce Product Upgrades</h2> 
In a strategic move, <a href="https://coingape.com/blog/was-ripple-really-hacked/" target="_blank" rel="noopener">Ripple</a> has decided to break its 3-year silence in the U.S. According to a <a rel="nofollow" href="https://www.linkedin.com/posts/oliversegovia_were-excited-to-wrap-up-january-with-fresh-activity-7158687205501091840-i_FC" target="_blank">post</a> on LinkedIn by W. Oliver Segovia, Head of Product Marketing at Ripple, announced that they are set to unveil a series of product updates. These upgrades would be powered by their extensive money transmitter licenses (MTLs) and would target the majority of the U.S. states. 
Despite 90% of Ripple’s business thriving internationally, this bold initiative marks a notable return to the US market for Ripple Payments. Moreover, this initiative comes amid legal scrutiny from the SEC and the recent XRP hack, which increases the weight of the announcement. 
Earlier, <a href="https://coingape.com/ripple-brad-garlinghouse-cancel-us-ipo-plan-what-next/" target="_blank" rel="noopener">Ripple explored IPO</a> options outside the U.S. and blamed the ‘hostile’ regulators for it. In addition, they noted that they won’t go public in the country anytime soon. Furthermore, a few years ago they shifted operations to other countries and even declared that they would conduct 80% of hirings outside the States. Hence, the advent of Ripple Payments in the region would mark a grand comeback for the crypto firm. 
Also Read: <a href="https://coingape.com/ripple-locks-800-mln-xrp-escrow-amid-soaring-whale-activity-whats-happening/" target="_blank" rel="noopener">Ripple Locks 800 Mln XRP in Escrow Amid Soaring Whale Activity, What’s Happening?</a> 
<h2 id="legal-battle-xrp-hack">Legal Battle &amp; XRP Hack</h2> 
The conclusion <a href="https://coingape.com/xrp-lawsuit-ripple-sends-letter-to-judge-netburn-over-secs-factual-mischaracterization/" target="_blank" rel="noopener">Ripple vs. SEC</a> legal quandary doesn’t seem to be near as both parties have repeatedly contradicted each other’s statements. On January 25, the company submitted a letter to District Magistrate Judge Sarah Netburn, aiming to rectify factual inaccuracies in the SEC’s response to its motion to compel. 
Ripple stressed the importance of a sur-reply for a nuanced court ruling. In addition, the firm disputed the SEC’s assertion that it doesn’t contend with burdens in presenting post-complaint contracts. Additionally, the crypto firm highlighted the SEC’s request as “overly burdensome,” stating it would necessitate a new trial. 
On the other hand, this week, reports surfaced of a substantial breach at Ripple. Allegations hinted at a $112.5 million loss in XRP tokens due to a wallet hack linked to the address “rJNLz3….ojm.” The incident triggered a 4% drop in XRP’s value. In a rapid response, <a href="https://coingape.com/ripple-hack-that-made-the-rounds-earlier-debunked-by-ceo/" target="_blank" rel="noopener">Ripple CEO Brad Garlinghouse</a> refuted the claims, asserting that no wallets on the platform were compromised. 
Garlinghouse aimed to address the community’s concerns and clarify the organization’s security stance. Subsequently, it was disclosed that the affected accounts belonged to <a href="https://coingape.com/ripple-faces-112-5m-xrp-theft-chris-larsen-responds/" target="_blank" rel="noopener">Chris Larsen</a>, Ripple’s co-founder. Thereafter, Binance froze $4.2 million worth of stolen XRP tokens in the exploiter’s account to assist the ongoing investigation. 
Also Read: <a href="https://coingape.com/xrp-price-to-surge-soon-amid-strong-whale-holdings-despite-ripple-hack/" target="_blank" rel="noopener">XRP Price Rally Soon Amid Strong Whale Holdings Despite Ripple Hack</a> 
The post <a href="https://coingape.com/ripple-payments-to-go-live-in-us-amid-sec-battle-hack-fiasco/">Ripple Payments To Go Live In US Amid SEC Battle &amp; Hack Fiasco</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Ripple Payments To Go Live In US Amid SEC Battle & Hack Fiasco

Table of Contents

Coingape News Media

Other articles published on Feb 3, 2024

Portugal Sees a Surge in AI Adoption with a Promising Economic Impact

NFT Investor Adamv.eth Loses All His Otherdeed NFTs After Clicking A Phishing Link

Cardano (ADA) Price Teases Key Resistance to Trigger 35% Breakout Rally

Solana (SOL) Back Above $100 but Can It Stay There? Pullix (PLX) Gearing Up To Launch Hybrid Exch...

Shardeum (SHM) Airdrop: Tokenomics, Eligibility, & Everything Else To Know

Former U.S. President Trump Raises Concerns Over AI and Deepfake Threats

Join our free newsletter for daily crypto updates!